Answer:
the amount of increase in the common stock is $75,000
Explanation:
The computation of the amount of increase in the common stock is shown below;
= Number of shares of common stock sold × stated value per share
= 15,000 shares × $5 per share
= $75,000
Hence, the amount of increase in the common stock is $75,000
The kind of money used by a group or nation is usually considered currency. Currency can be denominated in paper or coin money, but most currency today exists in bank balances throughout the world in non-physical (exists only on a computer or in a bank ledger) rather than in its physical form.
Answer:
Ending Inventory $ 64,000
Explanation:
To define the final inventory of the company it's necessary to find the cost of good of the period.
As the company had a 43% of gross profit, it means that for every dollar of sales we have 0,43 dollar of Gross Profit, with this value is possible to know the total cost of the goods sold during the period, that it's the difference between Sales Revenue and Gross Profit.
Total Sales Revenue had to be the net value after returns and discounts as it's detailed.
Income Statement
Sales revenue $ 300,000
Cost of goods sold -$ 171,000
Gross Profit $ 129,000 43%
Beginning Inventory $ 60,000
Purchases $ 175,000
Cost of goods sold -$ 171,000
Ending Inventory $ 64,000
Answer:
$1.28
Explanation:
The computation of the earning per share is shown below:
As we know that
Earning per share = Net income ÷ Number of shares outstanding
where,
Net income is
Earning before interest and taxes $24,600
Less: Interest
($60,000 × 6%) - $3,600
Income before tax $21,000
Less: tax for 40% - $8,400
Earning after tax $12,600
Less: Preference dividend
(1,500 shares × $5) -$7,500
Income available $5,100
So the earning per share is
= $5,100 ÷ $4,000
= $1.28
Answer:
Option (A) $130,000,000
Explanation:
Data provided in the question:
Excess reserves = $80,000,000
Checkable deposits = $500,000,000
Reserve requirement by the bank = 10%
Now,
The bank’s total amount of reserves will be
⇒ Reserve requirement × Checkable deposits
or
= 10% × $500,000,000
= 0.10 × $500,000,000
= $50,000,000
Hence,
the total amount of reserve = Required reserve + Excess reserves
= $80,000,000 + $50,000,000
= $130,000,000
Option (A) $130,000,000
